ASE Technology (NYSE:ASX) Sets New 52-Week High – What’s Next?

Shares of ASE Technology Holding Co., Ltd. (NYSE:ASX) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $16.51 and last traded at $16.4630, with a volume of 6851195 shares. The stock had previously closed at $15.97.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Nomura Securities raised ASE Technology to a “strong-buy” rating in a research report on Thursday, October 30th. Nomura raised shares of ASE Technology from a “neutral” rating to a “buy” rating in a research note on Thursday, October 30th. Wall Street Zen downgraded shares of ASE Technology from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ASE Technology in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy”.

ASE Technology Trading Down 4.2%

The company has a market capitalization of $34.86 billion, a PE ratio of 31.43, a price-to-earnings-growth ratio of 0.95 and a beta of 1.46. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.13 and a quick ratio of 0.88. The company’s fifty day moving average is $14.10 and its 200-day moving average is $11.67.

ASE Technology (NYSE:ASX) last issued its quarterly earnings data on Thursday, October 30th. The semiconductor company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. ASE Technology had a return on equity of 10.67% and a net margin of 5.61%. On average, analysts anticipate that ASE Technology Holding Co., Ltd. will post 0.76 EPS for the current fiscal year.

Institutional Trading of ASE Technology

A number of institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. grew its stake in shares of ASE Technology by 4.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,437,846 shares of the semiconductor company’s stock valued at $25,183,000 after buying an additional 105,491 shares during the period. OLD Mission Capital LLC acquired a new position in ASE Technology in the first quarter valued at $583,000. American Century Companies Inc. grew its position in ASE Technology by 20.9% during the second quarter. American Century Companies Inc. now owns 3,180,215 shares of the semiconductor company’s stock valued at $32,852,000 after acquiring an additional 549,025 shares during the period. Hantz Financial Services Inc. increased its stake in ASE Technology by 3,929.8% during the second quarter. Hantz Financial Services Inc. now owns 18,094 shares of the semiconductor company’s stock worth $187,000 after acquiring an additional 17,645 shares during the last quarter. Finally, Fortitude Advisory Group L.L.C. purchased a new position in ASE Technology in the second quarter valued at approximately $258,000. 6.80% of the stock is currently owned by institutional investors and hedge funds.

ASE Technology Company Profile

ASE Technology Holding Co, Ltd., together with its subsidiaries, provides semiconductors packaging and testing, and electronic manufacturing services in the United States, Taiwan, Asia, Europe, and internationally. It develops, constructs, sells, leases, and manages real estate properties; produces substrates; offers information software, equipment leasing, investment advisory, and warehousing management services; commercial complex, after-sales, and support services; manages parking lot services; processes and sells computer and communication peripherals, electronic components, telecommunications equipment, and motherboards; and imports and exports goods and technology.